Trump Media and Tech Group (NO Politics Allowed) (DJT)

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Hedge fund Kerrisdale Capital Management is betting against the shell company tied to Donald Trump, wagering that it will fail to get regulatory approval to merge with his media company and take it public.

Shares of Digital World Acquisition Corp., a special-purpose acquisition company, have more room to fall, according to a report Wednesday from Kerrisdale announcing its short position. DWAC gave misleading statements in registration documents and the high-profile nature of its potential combination with the former president’s company, Trump Media & Technology Group, is an “ideal way” for regulators to send a message to the broader industry, it said.

“DWAC is not just another dubious 2021 SPAC; it is a poster child for some of the worst abuses the investment vehicle has spawned,” according to the report from Kerrisdale, which is led by founder and chief investment officer Sahm Adrangi.

https://finance.yahoo.com/news/hedge-fund-bets-against-spac-171238833.html